Since the start of the Pandemic, the price of some vintage guitars in Japan has doubled.
A staff member at a guitar shop in Tokyo’s Shinjuku ward said that in the past, prices would rise gradually, but now they jump by 50% in a single month.
The staff member said that the price gains had picked up speed.
The pace doesn’t seem to have slowed, with instrument sellers saying that some models are being bought as investments.
A guitar is vintage if there is no clear definition. Vintage guitars are from 1969 or earlier.
Some of the most sought-after brands are, of course, Martin andGibson. The sound quality of guitars made of wood that are not used anymore improves with age.
The same model that was played by Elvis Presley, Bob Dylan and others, now sells for over one million dollars, up 40% from the previous year. The value doubled from the previous year.
The 1960 Martin D-28, which was loved by artists including Johnny Cash, is worth an estimated 1.6 million dollars this year, up more than 20% from last year and more than 30% from 2019. The 1969 Martin D-28 would sell for over one million dollars.
Many people who were interested in playing guitar, but didn’t have time to learn, found their chance when they were at home during the Pandemic. The number of acoustic guitars and electric guitars sold in Japan increased last year.
The cheap beginner models were chosen by the new buyers. The vintage market has guitarists who want to play a piece of history.
The person said that vintage guitars are selling well right now.
The majority of vintage guitar buyers are in their 40’s or older.
When people approach their retirement years, they tend to seek fulfillment beyond work, and with the increase of disposable time during COVID, demand for vintage guitars has grown as an indoor pastime.
The vintage guitar bubble isn’t limited to Japan. There have been spikes in prices in the United States. These guitars are no longer being made by anyone.
A staff member at a music shop in Japan said that dealers in the US are finding it easier to sell at their asking prices.
The clerk at the Tokyo vintage guitar shop said there had been a drop in the number of people coming to sell their guitars.
People would swap old guitars for new ones. It seems that people don’t think they’ll be able to buy their old guitars back if they sell them.
Sought after instruments gain value over time. Vintage guitars are less expensive than classic violins that sell for millions of dollars.
The representative said that buyers in China and other places who had not shown much interest in vintage guitars are starting to show up.
The rapid depreciation of the Japanese currency, along with elevated international airfreight costs, is putting more of a burden on Japanese enthusiasts looking for their dream model.
The guitar has attracted attention as a hobby and an investment.